Price is near a long term trendline which could act as a support even if we are in the middle of a corrective structure and the price could drop below it.
But i'm waiting for a setup like the one on the left.

Introduced by William O'Neil in his book " How to Make Money in Stocks", here i can see the cup and handle pattern. We are in the handle. There is a pinbar but i'm not sure the pair is ready to go up. Wait for the breakout and be prepared to the worst.

Hello traders !. I've been stydying the wave theory for a couple of days ... This is my first wave count so don't expect too much. If i'ts wrong please tell me.
So wave 2 retraces about 0.62 wave 1 like stated in some guideline and the big correction ( ABC ) ends about the level of wave 4 ( it's also very common). The big correction is a zigzag to me and there ...